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Dayton: Revised budget coming next week

DFL Gov. Mark Dayton hinted strongly Tuesday that he plans to ease up on his plan to tax transactions between businesses.

Dayton will unveil a revised tax and spending proposal next week to reflect an improving state economic picture and a deficit that's $463 million smaller than it was when he crafted his original plan.

During a speech at the University of Minnesota, Dayton said his new budget will be evidence that he's listened carefully to the concerns of businesses.

"You hear an earful, I've heard a TCF Stadium full of concerns about the business to business tax," Dayton said. "We fortunately last week got a better revenue forecast for the next biennium with lower expenditures and higher revenues. So, next week I'll come out with something, and I hope you'll be pleased with that."

Dayton declined to offer any specifics after the speech. He said state budget and revenue officials were still working on some financial projections.